J. P. Kyrillos Appointed to the Advisory Board of InvestProperty Group, LLC

06.04.2007

June 4, 2007 - Scott L. Mathis, Founder, President and CEO of the InvestProperty Group, LLC announced today that J. P. Kyrillos has joined its advisory board.J.P. Kyrillos is vice president and publisher of Food & Wine, the most widely read and influential epicurean magazine. Printed monthly by the American Express Publishing Corporation, Food & Wine provides readers with insider intelligence and actionable information on the epicurean lifestyle. As publisher, Kyrillos oversees the magazine’s business operations, including sales and marketing.

Kyrillos began his career in the ad sales department of Modern Bride. He joined Food & Wine in 1996 as an account manager overseeing travel related business. Prior to becoming vice president and associate publisher in 2005, Kyrillos was associate publisher of Maxim.

Kyrillos serves on the advisory board of Farm to Table, an Earth Pledge initiative, and launched the ‘Grow for Good” campaign in 2006 in an effort to promote sustainable farming within the Food & Wine community.

“Being able to work with the InvestProperty Group Advisory Board and the opportunity to assist them with their efforts as it applies to the purchase and development of their vineyard operations in Argentina is most exciting. I am truly looking forward to being part of this exciting team,” said Kyrillios.

"Mr. Kryillios brings to our advisory board not only his extensive knowledge of wines and how they fit into the epicurean marketplace but also his expertice in the areas of business operations, sales and marketing will be a tremendous asset toward helping InvestProperty Group to continue to create value and build wealth, “ said Mathis.

Important Notes:The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. This press release may contain certain statements of a forward-looking nature relating to future events or future business performance. Any such statements that refer to Algodon Wines & Luxury Development Group (Algodon Group) and its respective subsidiaries ("the Company") estimated or anticipated future results or other non-historical facts are forward-looking and reflect the Company's current perspective of existing trends and information. These statements involve risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. The forward-looking statements speak only as of the date set forth above. The Company undertakes no obligation to update publicly any forward-looking statement, whether because of new information, future events or otherwise.